10/07/2021
GTA Real Estate September 2021 Market Update... September marked the transition from the slower summer market to the busier fall market in the in the GTA. Sales increased relative to August and were also at the third-highest mark on record for the month of September. The average selling price was up both month-over-month and year-over-year.
Demand has remained incredibly robust throughout September with many qualified buyers who would buy a home tomorrow provided they could find a suitable property. With new listings in September down by one third compared to last year, purchasing a home for many is easier said than done. The lack of housing supply and choice has reached a critical juncture. Bandaid policies to artificially suppress demand have not been effective. This is not an issue that can be solved by one level of government alone. There needs to be collaboration federally, provincially, and locally on a solution.
โPrice growth in September continued to be driven by the low-rise market segments, including detached and semi- detached houses and townhouses. However, competition between buyers for condo apartments has picked up markedly over the past year, which has led to an acceleration in price growth over the past few months as first-time buyers re- entered the ownership market. Look for this trend to continue,โ said Jason Mercer, TRREB Chief Market Analyst.
Contact me if you have any questions about the market or any real estate needs:
Dinesh Chauhan, Real Estate Salesperson
โ๏ธ ๐๐๐ฅ๐ฅ ๐๐จ๐ฐ: 647-448-7554
๐ง ๐๐ฆ๐๐ข๐ฅ: [email protected]
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